& keep up with the remarkable acceleration in eCommerce retail
The impact of the COVID-19 pandemic and social distancing measures have seen a worldwide acceleration in growth of eCommerce retail.
We have entered a period of hyper-evolution, where consumer behaviour and the technology that supports buying online has changed forever.
Now, the equivalent of 5 years of “gradual shift” into ecommerce will be compressed into two quarters.
How much speed are we picking up?
Former eBay Inc. CEO Devin Wenig was quoted by Bloomberg as projecting eCommerce share of total U.S. retail sales at 20% in the second quarter of 2020. For context, at the end of 2019, ecommerce share was 10% of total retail sales in Australia and 11% in the U.S.
eCommerce platform Shopify is already handling Black Friday level traffic daily!
How do you manage such rapid growth?
As tempting as growth in hyper-speed is, it’s incredibly difficult to manage.
Keeping on top of your supply chain as well as managing the human resources to fulfil such rapidly increasing order volumes is HARD! & mistakes are easy to make.
How do you keep up without derailing your business completely?
Well buckle in – here’s what you need to do RIGHT NOW to facilitate your growth!
Systemise to Supercharge Growth
This week my guest on the podcast, Lisa Munro from Happy Tummies, shares her step-by-step process for documenting systems and procedures.
Yes, I realise this sounds like an incredibly boring topic, but the potential upside from doing this yourself is absolutely MASSIVE!
Lisa was prompted to do this after a bout of illness left her totally incapacitated and she realised that no-one else knew how the business operated. No-one could help with ordering or pick-and-pack or marketing. It was a complete disaster!
But now, despite basically tripling her revenue basically overnight with COVID-19, her systems have made it easy for her to expand quickly and with the confidence that everything will be done exactly the way she wants it.
So if you’ve ever felt like, “it’ll take too long to teach someone so it’s easier if I just do it myself”, or “I can’t outsource this because no-one knows how to do it just like me”, then this episode is for you!
Next, be sure to head to our Rockstar Productpreneur community to ask your #askcatherine questions! I can’t wait to hear them.
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